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FHFA Will Provide Multifamily Mortgage Relief in Exchange for Eviction Moratoriums

by Nena Perry-Brown

A day after the National Multifamily Housing Council urged property owners to enact moratoriums on evictions and rent increases, the Federal Housing Finance Agency (FHFA) is making it easier to follow through.

FHFA announced Monday afternoon that Fannie Mae and Freddie Mac will extend conditional mortgage forbearance to multifamily property owners who suspend evictions for delinquent renters affected by COVID-19. Any eviction moratorium must be in place throughout the entire forbearance period.

“Renters should not have to worry about being evicted from their home, and property owners should not have to worry about losing their building, due to the coronavirus," FHFA director Mark Calabria said in a statement. "The multifamily forbearance and eviction suspension offered by the Enterprises should bring peace of mind to millions of families during this uncertain and difficult time."

Photo by Ted Eytan.

UrbanTurf's Coverage of COVID-19 

This article originally published at http://dc.urbanturf.com/articles/blog/fhfa-trading-multifamily-mortgage-relief-for-eviction-moratoriums/16632

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